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people -- in your campaign -- a balanced budget by 1983. biggerow had more and deficits in the 4 years you've been in office. mr. president, do you have a secret plan to balance the budget sometime in a second term, and if so, would you lay out that plan for us tonight? the president. >> i have a plan -- not a secret plan. as a matter of fact, it is the economic recovery program that we presented when i took office in 1981. it is true that earlier, working with some very prominent economists, i had come up, during the campaign, with an economic program that i thought could rectify the great problems confronting us -- the double-digit inflation, the high tax rates that i think were hurting the economy, the stagflation that we were undergoing. before even the election day, something that none of those economists had even predicted had happened, that the economy was so worsened that i was openly saying that what we had thought on the basis of our plan could have brought a balanced budget -- no, that was no longer possible. so, the plan that we have had and that we are following is a plan
economy that we're in today, and that is that these heavy deficits have killed exports and are swamping the nation with cheap imports. we are now $120 billion of imports, 3 million jobs lost, and farmers are having their worst year. that's another reason to get the deficit down. >> mr. mondale, is it possible that the vast majority of americans who appear to be prosperous have lost interest in the kinds of programs you're discussing to help those less privileged than they are? >> i think the american people want to make certain that that dollar is wisely spent. i think they stand for civil rights. i know they're all for education in science and training, which i strongly support. they want these young people to have a chance to get jobs and the rest. i think the business community wants to get involved. i think they're asking for new and creative ways to try to reach it with everyone involved. i think that's part of it. i think also that the american people want a balanced program that gives us long-term growth so that they're not having to take money that's desperate to themselves and
america. and that we reduce our deficit in a balanced way that allows us to make critical investments. now, ultimately it will be up to the voters, to you, which path we should take. are we going to double down on the top down economic policies that helped get us into this mess? or do we embrace a new economic patriotism, that says america does best when the middle class does best? i'm looking forward to having that debate. >> governor romney, two minutes. >> thank you, jim. an honor to be with you and pleased to be with the president. i'm pleased to be at the university of denver, i appreciate the welcome and the presidential commission on these debates and congratulations to you, mr. president, on your anniversary. i'm sure ythis is the most romantic place you could imagine, here with me. this obviously is a tender topic. i've had the occasion of meeting people across the country. i was in dayton, ohio and a woman grabbed my arm and said i've been out of work since may. can you help me? and yesterday was at a rally in denver and a woman came up to her with a baby in her arms and said, an
? >> i would have to just say what the president said four years ago, if he could not cut the deficit in half, he does not deserve to run again. i don't have anything against him, but a lot of people called up and said the narrator ann romney grandstanded. i don't think he has the passion he does because he is under a lot of pressure. he has painted himself into a corner. >> this is from joshua, texas, on the independent line. >> i was watching the debate tonight and just looking at the body language on these guys. they keep avoiding the real issues. >> such as? >> they keep talking about the middle class, but their definition of the middle classes people that make over $40,000, for the most part. what about the people who make $20,000 or less? a lot of people don't make that much money. >> beat you learn anything tonight? >> no sir >> eric is saying she was not moved at all by this debate. this is steve joins us on our democrats line. >> i watched the debate for a second time tonight, and the first time i thought romney had him back on his heels of a lot. the second time through, i r
of this is possible. we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. centerr romney's economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. to try and dollars in additional military spending. -- $two trillion in additional military spending. without dumping the cost on the middle class americans. that is one of the central questions of this campaign. >> you have spoken about a lot of different things. governor romney, do you have a question you would like to ask the question directly about something he just said? >> i do not have a $-- tax cuts bill you're talking about. we have to provide tax relief to people in the middle class. our not reduce the share of taxes paid by high income people. they are doing fine in the economy. the people who are having a ha time are middle income americans. under the president's policies, they have been buried. middle income americans have seen their income decreased by $4,300. this is a t
we are setting as we wind down two wars, to rebuild america, and we reduce our deficit in a balanced way that allows us to make these critical investments. ultimately it's up to the voters, to you, which path we should take. are we going to double down on the top-down economic policies that help us get into this mess, or do we embrace america doing best when the middle-class. >> of trichet the chance to be here with the president and be at the university of denver -- i appreciate the chance to be here with the president. congratulations to you, mr. president, under anniversary. i am sure this is the most romantic place you can imagine being, here with me. i have had the occasion of the last couple of years in meeting people across the country. i was in dayton, ohio, and a woman grabbed my arm and said i have been out of work since may, can you help me? yesterday i was at a rally in denver and a woman came up to be with the baby in her arms and said my husband has had four jobs in three years. he lost his most recent job and we have now just lost our home, can you help us? the answer
'll have to close our deficit. and how do we deal with our tax code and make sure we are reducing spending in a responsible way and how do we make sure we have enough revenue to make those changes. governor romney's plan calls for $8 trillion, how we pay for that reduce the deficit and make the investments that we need to make without dumping those costs on middle class americans i think is one of the central questions of this campaign. >> both of you have spoken about a lot of different things. first governor romney do you have a question you would like to ask the president directly about something he just said? >> romney: sure. first of all, i don't have a $5 trillion tax cut. i don't have a tax cut. my view is that we ought to provide tax relief to people in the middle class, but i'm not going to reduce the share of taxes paid by high income people. they are doing just fine in this economy. the people having a hard time right now are middle income americans. they have been buried. they are just being crushed. middle income americans have seen their income c
said you would cut the deficit in half, it's four years later. >> the way we do it is $2.50 for every cut. we ask for $1 additional revenue. pay for by asking those of us who have done well to contribute more to reduce the deficit. >> reporter: the president insisted romney would spend $5 million. >> math, common sense and history shows it's not a recipe of job growth. >> everything he said about my plan is inaccurate. >> reporter: medicare -- >> cutting from medicare to balance the additional cost of obama care is a mistake. >> if you repeal obama care, and i have become fond of this term, obama care, if you repeal it, those seniors are going to pay more for prescriptions. >> reporter: the exchange over health care and jobs. >> i don't know how the president could come into office facing 23 million people out of work, economic crisis at the kitchen table and fight for obama care instead of fighting for jobs for the american people. >> we did work on this alongside working on jobs. this is part of making sure middle class families are secure. >> romney challenging his to se exchange h
. >> you said you'd cut the deficit in half. it's four years later, we still have trillion-dollar deficit. >> the way we do is for additional cut, we ask for a dollar of additional revenue, paid for, as i indicated earlier, by asking those of us who have done very well in this country to contribute a little bit more to reduce the deficit. >> reporter: the president insisted romney would spend $5 trillion on tax breaks favoring the wealthy. >> math, common sense and our history shows us that's not a recipe for job growth. >> everything he just said about my tax plan is inaccurate. >> reporter: they clashed on wall street, whether banks should be too big to fail, and medicare. >> cutting $716 billion from medicare to be able to balance the additional cost of obama care is, in my opinion, a mistake. >> if you repeal obama care, and i have become fond of this term, obama care, if you repeal it, what happens is those seniors right away are going to be paying $600 more in prescription care. >> reporter: the fiercest exchange over health care and jobs. >> i just don't know how the president coul
him the 10% president. that is what he spiax responsibility for the deficit and libya is still raising more questions for the white house. it could have been stopped? >> paul: welcome to the journal editorial report. i'm paul gigot. you'll eyes were on ohio this week as they both hit the buckeye state hard. hoping to put 18 electoral votes in their col >> paul: politics poll real lot of attention to polls because it depends on what they take and the sample. these guys have been in ohio and they should start paying income tax. this thing is as close can be they both wouldn't be here. i expect this to go down to the wire. we are always a swing state. it will be very close. >> paul: so the democrats are saying one of big things that is helping the spent the auto bailout. is that how you lead to to help the president? >> look, we're up 123,000 jobs over the last year and three-quarters. we're actually according to the bureau of labor statistics down 500 jobs, auto jobs in ohio. the situation. chrysler has expanded and ford and gm have shrunk their footprint but we stabilizing. auto industr
of the fed. certainly fed jim bernanke and a big hawk about our deficit. good to have you on the program. >> thank you, maria. good to be with you. >> what are you expecting? do you think governor romney comes out swinging right off the bat? what do you think he is going to be pressured and asked about in terms of specifics on his economic plan? >> overall i don't expect a whole lot of specifics from either one. in the last several weeks the whole of the discussion has been on debate techniques and who's going to make the biggest gaffe. hopefully they'll get to the bottom of it. but i don't know if they'll get around to what i consider the biggest financial issues, the debt crisis that we have. and what are they going to do about it. and how do they relate to the federal reserve. say we can't have much to do with it. let the fed monetize the debt and go on and on? i have not heard from either one of them actually cutting something. so i'm afraid the important issue of the financial crisis that we're in the middle of is going to get worse. my prediction is they won't really deal with it t
the biggest deficit in our history. over the last four years, the deficit has gone up but 90% is a consequence of two wars that weren't paid for, as consequence of tax cuts that weren't paid for. a prescription drug plan that wasn't paid for and worst economic crisis since the great depression. that accounts for 10% for the increase in the deficit. >> we asked editor james free man to run the numbers. so let's take these one by one. did president obama inherit the biggest deficit in american history? >> it wasn't the biggest and he didn't inherit it. world war ii had bigger deficits. he didn't really inherit it. he helped create it. 2009 was the first year in office and especially something he doesn't seem to want to remember, stimulus $8000 billion. >> paul: as a share of the economy it was 3.2%. it did balloon to 10.1% in 2009. i would give president bush some credit for that because in fact the recession had started. the recession for his first six months of his term. what you are saying there is a thing called $830 billion spending. >> february 2009 that president obama doesn't want to tak
deficit spending. so this idea, look, overseas, which where i come from means lake superior. we both live near canada, right? the canadians have this figured out. the canadians lowered their taxes to 15%. president obama wants to tax our successful small businesses to go above 40%? when we tax our job creators at much higher tax rates than our foreign competitors tax theirs, they win, we lose. we have to get right with the idea that our jobs come from successful small businesses. we don't want to tax them more, we don't want to regulate them more, we want them to hire more. that is essential. [applause] and none of this is going to work. no business is going to be confident to take that risk to hire people, to advance people, to give people promotions and raises and job security if they see their government borrowing and spending like it is. we can't keep borrowing 36 cents of every dollar our government spends. we can't keep the federal reserve doing what it's doing. we cannot keep looking our children in the eyes knowing that we're going to give them a diminished future because we are s
. romney came out swinging as the candidates argued tax policy, budget deficit and health care and looks like the aggressive approach may have paid off for the republican challenger. a poll shows romney made strides. we go to denver first. >> reporter: terrell, good morning. seems like mitt romney may have received that boost he was hoping for after putting the president on the defensive for much of the night. romney lauded his own accomplishments as governor of to highlight the failed promises of the obama administration. the first presidential debate started with a hand shake and a romantic moment. >> 20 years ago i became the luckyiest man onarth because michelle obama agreed to married me. >> congratulations. >> reporter: that was the last touching moment of the night. >> everything he said about my tax plan is inaccurate. the tax plan he described is the tax plan i was asked to support i would say absolutely not. >> he's been running on this tax plan, and now five weeks before the election he's saying that his big bold idea is never mind. >> reporter: the theme of the debate for pre
deficit. they have to deal with the deficit. but once you're done with the deficit you have to rebuild the middle class in this country and nobody is paying much attention to that. we have a lot of rhetoric in the campaign but-- >> but the necessary done to help the middle class is to nail down the fiscal issues. if we don't nail down the fiscal issues, i don't think anything will matter. >> but i'm with you, i think it will happen because of necessity, because of the fiscal cliff. >> what it will take to rebuild the middle class? >> it's taken three decades to basically decimate the middle class. it will take something like that to rebuild it. but we have to be dedicated to that. we're focused on a fescal deficit not a human deficit, and we have a human deficit in this country. we have 27 million people either unemployed, working part time, unwillingly, or dropping out of the labor market. >> schieffer: let me work michelle into this conversation. as you sit here hearing this, it's always education that seems to wind up at the back of the line. >> that's right, that's right. and i thi
the deficit or stick it to the middle class. that's the math. we can't afford to go down that road again. we can't afford to gut our investments in education or clean energy or research and technology. we can't afford to roll back regulations on wall street. or on big oil companies or insurance companies. we cannot afford to double down with the same top-down economic policy that is got us into this mess. that is not a plan to create jobs. that is not a plan to grow the economy. that is not changed. that is a relapse. we don't want to go back there. it didn't work, and we are not going back. we are going forward. i've got a different view about how we create jobs and prosperity. this government doesn't succeed when we only see the rich getting richer. we succeed when the middle class gets bigger. we grow our economy not from the top down, but from the middle out. we don't believe that anybody is entitled to success in this country, but we do believe in something called opportunity. we believe in a country where hard work pays off and where responsibilities were awarded and everybody is getti
Search Results 0 to 49 of about 1,099 (some duplicates have been removed)

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